Volume 25 - Number 17
August 18, 2014
Downloads Available: Consumer Credit Reporting Complaints Filed With CFPB by Company - as of 6/30/14
Incorrect Info Leads the Way in Complaints About Credit Reports
Inaccurate information stands head, neck and torso above any other complaints consumers have about credit reporting, a new analysis of CFPB data by Inside the CFPB finds. Of the big three credit reporting firms – Experian, Equifax and TransUnion – gripes about incorrect data represented 68.7 percent of their combined total of 28,698 submissions. (See chart on following page.) Experian had the highest total of consumer criticisms about inaccurate information, followed by Equifax. But of the three, TransUnion had the largest percentage, 72.2 percent. This category of complaints included sub-issues such as account status, account terms, “information is not mine,” personal information, public record, and “reinserted previously deleted information.” The second largest credit report gripe had to do with “investigation procedure.” This ...
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